Updates, advisories and surprises

(5:36 PM ET) CHICAGO (MarketWatch) -- News Corp. Chief Operating Officer Chase Carey said Wednesday that "TV Everywhere," the effort by content providers and cable operators to tie online video viewing to pay-TV subscriptions, is still a good idea, but the industry is taking too long to implement the strategy. "I think in this world, you can't spend three or four years getting something going," he said during a conference call with analysts. "And I think the secondary concern is ... [that] I would rather see there be much more of an open architecture around authentication. We've got to execute it better." TV studios and networks, worried that many people will cancel their pay-TV subscriptions and simply stream the shows they like from the Internet, are working to set up a system that will verify that someone is cable, satellite or fiber video customer, and then let them watch a particular program. However, the system has been discussed since at least 2008, and has yet to be rolled out on a broad basis.

Prudential Financial nearly triples profit

(4:34 PM ET) SAN FRANCISCO (MarketWatch) -- Prudential Financial Inc.
PRU, +0.14%
reported late Wednesday fourth-quarter profit rose to $606 million, or $1.26 a share, from $213 million, or 45 cents a share, a year ago. Adjusted to exclude one-time items, the company earned $1.97 a share compared with $1.76 a year earlier. Revenue for the quarter ended Dec. 31 rose 28% to $10.26 billion from $8.02 billion. Analysts polled by FactSet Research had expected the Newark, N.J.-based financial services provider to earn $1.76 a share on $10.2 billion in revenue. Prudential shares were up 16 cents, or 0.3%, at $60.70 in after-hours trade. The stock is down 5.5% over the past 12 months.

Cisco net jumps 43.5% on strong sales

(4:28 PM ET) SAN FRANCISCO (MarketWatch) -- Cisco Systems Inc.
CSCO, -1.70%
on Wednesday reported a fiscal second-quarter profit of $2.2 billion, or 40 cents a share, compared with a profit of $1.5 billion, or 27 cents a share, for the year-earlier period. Revenue was $11.5 billion, up from $10.4 billion. Adjusted income was 47 cents a share. Analysts were expecting the networking gear maker to post earnings of 43 cents a share, on revenue of $11.2 billion, according to a consensus survey by FactSet Research.

Whole Foods lifts outlook on continued growth

(4:21 PM ET) SAN FRANCISCO (MarketWatch) -- Whole Foods Market
WFM
late Wednesday reported a better-than-expected profit for its fiscal first-quarter and raised its 2012 profit outlook. Profit rose 33% to $118.3 million, or 65 cents a share, from $88.7 million, or 51 cents a share, in the same period last year. Sales rose 13% to $3.4 billion, while comparable store sales grew 8.7%. Analysts had forecast Whole Foods to earn 60 cents a share, according to FactSet. Whole Foods indicated sales continue to be strong as comparable store sales have increased 9.4% from quarter end Jan. 15 through Feb. 5. Whole Foods now projects a profit of $2.28 to $2.32 a share for its fiscal year that ends in September, up from its old forecast of $2.21 to $2.26. Operating margin was pegged at 5.9%, up from a range of 5.7% to 5.8%. Whole Foods shares have surged 48% over the last 12 months, compared to the 10% gain for the S&P Consumer Staples Index.

Visa posts 16% higher profit, sets share buyback

(4:19 PM ET) SAN FRANCISCO (MarketWatch) -- Visa Inc.
V, -1.29%
reported late Wednesday fiscal first-quarter profit rose 16% to $1.03 billion, or $1.49 a share, from $884 million, or $1.23, a year ago. Revenue for the quarter ended Dec. 31 rose to $2.55 billion from $2.24 billion. Analysts polled by FactSet Research had expected the Foster City, Calif.-based credit card and company to earn $1.45 a share on $2.47 billion in revenue. The company also announced it plans to buy back $500 million of its A-class shares. Visa shares rose 65 cents, or 0.6%, to $109.00 in after-hours trade. Prior to the report the stock was up 45% over the past 12 months.

Akamai earnings climb 14%; company names new CFO

(4:18 PM ET) SAN FRANCISCO (MarketWatch) -- Akamai Technologies Inc.
AKAM, -0.67%
on Wednesday reported a fiscal fourth-quarter profit of $60.1 million, or 33 cents a share, on revenue of $324 million, compared with earnings of $52.5 million, or 27 cents a share, on $284.7 million in sales in the same period a year ago. Excluding one-time items, the Web content-delivery technology company would have earned $83 million, or 45 cents a share. Analysts surveyed by FactSet Research had forecast Akamai to earn 40 cents a share on $312 million in revenue. Separately, Akamai named James Benson, its senior vice president of finance, as the company's new chief financial officer, effective March 1. Benson will succeed J. Donald Sherman in what the company called a "planned transition." Akamai shares rose 9% in after-hours trading.

News Corp. profit climbs 65% on cable, studios

(4:16 PM ET) CHICAGO (MarketWatch) - Media conglomerate News Corp.
NWSA, +0.38%NWS, +0.31%
said Wednesday that its fiscal second-quarter profit rose 65% on increased earnings at its cable-television networks and film and television studios. The company said it earned $1.06 billion, or 42 cents a share, in the quarter ended Dec. 31, compared with a profit of $642 million, or 24 cents, in the same period a year earlier. Excluding items, News Corp. said it would have earned 39 cents a share in the latest three months. Revenue rose 2% to $8.98 billion. Analysts polled by Thomson Reuters were expecting a profit of 34 cents a share on revenue of $8.94 billion. News Corp. is the parent company of Dow Jones & Co., which includes MarketWatch, the publisher of this report.

Groupon reports fourth-quarter loss, revenue gain

(4:07 PM ET) SAN FRANCISCO (MarketWatch) -- Groupon Inc. reported a net loss for the fourth quarter on Wednesday afternoon, surprising investors who had expected a small profit from the daily deal firm. For the period ended Dec. 31, Groupon
GRPN, +0.23%
reported a net loss of $42.7 million, or 8 cents a share, compared to a net loss of $378.6 million, or $1.08 a share, for the same period last year. Net loss on an adjusted basis came in at $9.8 million, or 2 cents a share, for the recent period. Sales jumped 194% to $506.5 million. Analysts were expecting earnings of 3 cents a share on revenue of $473 million, according to consensus forecasts from FactSet Research.

Cerner shares leap 13% on higher bookings

(12:34 PM ET) LOS ANGELES (MarketWatch) -- Shares of Cerner Corp.
CERN, +0.59%
leapt more than 13% by midday Wednesday after the medical services company reported better-than-expected earnings, revenue and bookings that exceeded analyst forecasts. The company said net income was $91.2 million, or 54 cents a share, compared with the $70.6 million, or 43 cents a share, reported a year ago. Revenue for the Kansas City-based company was $615.6 million vs. $500.2 million. Analysts polled by FactSet Research had expected earnings of 53 cents a share on sales of $588.2 million. Analyst Charles Rhyee of Cowen & Co. said the company's bookings of $899 million for the quarter were well above the previously forecast $670 million.

K12 Inc. shares fall 5% on revenue miss

(12:25 PM ET) CHICAGO (MarketWatch) -- Shares of online education provider K12 Inc.
LRN, +0.40%
were down 5.4% Wednesday a day after the company reported disappointing fiscal second-quarter results. K12 said it earned 11 cents a share on revenue of $166.5 million. Analysts were expecting a profit of 26 cents a share on $170 million in revenue, according to the consensus estimate of analysts polled by Thomson Reuters.

OpenTable's shares fall 8% as analysts cut ratings

(10:36 AM ET) SAN FRANCISCO (MarketWatch) -- Internet-based restaurant reservation and review company OpenTable Inc.
OPEN
saw its shares fall $4, or more than 8%, to $47.15 Wednesday. Late Tuesday, OpenTable reported a fourth-quarter profit of $7 million, or 29 cents a share, on revenue of $37.2 million, up from a profit of $5.1 million, or 21 cents a share, on $30.8 million in sales a year ago. Excluding one-time items, OpenTable would have earned 37 cents a shares. However, Oppeneheimer analyst Jason Helfstein cut his rating on the stock to perform from outperform, citing OpenTable's weaker-than-expected first-quarter sales forecast, and Credit Suisee analyst Stephen Ju also cut his rating on the stock to neutral from outperform.

Western Union shares fall on missed revenue target

(10:12 AM ET) SAN FRANCISCO (MarketWatch) -- Western Union Co.
WU, -0.79%
shares fell as much as 9% at the open Wednesday, making it the biggest decliner on the S&P 500 Index. The slump followed the wire and money transfer company's fourth-quarter report, issued late Tuesday. The company's profit jumped sharply to 73 cents a share from 37 cents a year earlier, matching Wall Street expectations, but revenue growth for the quarter came in at a disappointing 5%, falling shy of expectations. Western Union shares were last down 7.3% at $18.25. The stock is off nearly 15% over the past 12 months.

Synchronoss Tech shares rise 8% on strong results

(9:57 AM ET) SAN FRANCISCO (MarketWatch) -- Synchronoss Technologies Inc. [s; sncr] shares rose almost $3, or more than 8%, to $37.01 Wednesday following the software company's strong quarterly results. Late Tuesday, Synchronoss reported a fiscal fourth-quarter profit of $8.2 million, or 21 cents a share, on $62.2 million in revenue, turning around from a loss of $4 million, or 9 cents a share, on sales of $49.2 million in the same period a year ago. Excluding one-time items, Synchronoss would have earned 34 cents a share, which topped Wall Street analysts' forecasts of a profit of 23 cents a share on $61.6 million in revenue. Following the results. FBR Capital Markets analyst Daniel Ives raised his price target on the Synchronoss' stock to $40 a share from $35.

Ralph Lauren jumps 11% on strong earnings, outlook

(9:55 AM ET) SAN FRANCISCO (MarketWatch) -- Ralph Lauren Corp.
RL, +1.21%
shares jumped as much as 11% at the open Wednesday, vaulting the company to second-best percentage gainer in the S&P 500. The move followed the high-end apparel maker's surprisingly strong fiscal second-quarter statement in which it posted earnings of $1.78 a share, topping the $1.67 analysts were looking for. Revenue was up 17% from a year ago. The company also said it expects to see revenue growth of 20% in 2012. Ralph Lauren shares were last up 11.2% at $174.51. The stock is up 50% over the past 12 months, with half that gain seen since Jan. 1.

Ralph Lauren profit about flat, revenue up 17%

(8:24 AM ET) NEW YORK (MarketWatch) -- Ralph Lauren
RL, +1.21%
said Wednesday its third-quarter profit remained about flat at $169 million, or $1.78 a share, from $168.4 million, or $1.72 a share, in the year-ago period. Revenue rose to $1.81 billion, from $1.55 billion. Wall Street analysts polled by FactSet Research expected the clothing firm to earn $1.66 a share on revenue of $1.76 billion. Looking ahead, Ralph Lauren said it now expects 2012 revenue to increase by 20%, narrowing its earlier view for high-teens to low 20s.

Reynolds American profit rises

(7:34 AM ET) NEW YORK (MarketWatch) -- Reynolds American Inc.
RAI
which makes Camel cigarettes, said on Wednesday that it earned $304 million, or 52 cents a share in the fourth quarter, compared to $262 million, or 45 cents a share a year ago. On an adjusted basis, the firm posted 72 cents a share fourth-quarter profit. Sales for the quarter were flat, at $2.08 billion compared to $2.08 billion a year ago. Analysts polled by FactSet Research had expected the company to post a profit of 68 cents, on $2.04 billion of sales.

Moody's profit dips as U.S. sales fall

(7:30 AM ET) LONDON (MarketWatch) -- Moody's Corp.
MCO, -0.68%
on Wednesday reported a fourth-quarter profit of $96.2 million, or 43 cents a share, down from $137.4 million, or 58 cents a share, a year earlier. Revenue for the credit ratings agency rose slightly to $567.1 million from $564.3 million a year ago, despite a 3% decline in U.S. sales. Analysts polled by FactSet Research were looking for earnings, on average, of 48 cents a share on sales of $562 million. Moody's said it expects to report a 2012 profit in a range of $2.62 to $2.72 a share. Wall Street previously forecast annual earnings of $2.63 a share.

Time Warner profits up, sets $4 billion buyback

(7:23 AM ET) NEW YORK (MarketWatch) -- Time Warner Inc.
TWX, -0.28%
on Wednesday said its fourth-quarter profit increased to $773 million, or 76 cents a share, from $769 million, or 68 cents a share, in the year-ago period. The media company's adjusted fourth-quarter profit rose to 94 cents a share from 67 cents a share. Revenue increased to $8.19 billion, from $7.81 billion. Wall Street analysts expected Time Warner to earn 87 cents a share on revenue of $8.07 billion, according to a survey by FactSet Research. Time Warner set plans to buy back up to $4 billion in stock and increased its dividend by 11% to 26 cents a share. Looking ahead, Time Warner expects adjusted 2012 earnings to rise in the low double digits over the figure of $2.89 a share in 2011. The analyst estimate for Time Warner's 2012 earnings is $3.16 a share.

Reckitt Benckiser profit up 26%; sets new strategy

(2:37 AM ET) MADRID (MarketWatch) -- Global consumer group Reckitt Benckiser PLC(UK:RB)on Wednesday reported a 26% rise in fourth-quarter net profit , driven by emerging markets, as it announced a new growth strategy. Reckitt said net profit rose to 521 million pounds ($828 million) against GBP414 million in the year-ago period. Net revenue for the quarter rose 6% to GBP2.42 billion against GBP2.28 billion in the year-ago period. For 2012, the company is targeting net revenue growth, excluding Reckitt Benckiser Pharmaceuticals, of 200 basis points above market growth rate, which they expect to grow at 1% to 2%. "2012 will be a year of higher investment, but ex RBP, we are still targeting to maintain our operating margins," said Rakesh Kapoor, Chief Executive Officer. The company also outlined a growth strategy, which will see an increased focus on emerging markets, with that region expected to account for 50% of core business by 2016.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.